PSI14.1.23 - Transfer Payments: General -
Scheme Rules - Transfer-Out Rule
-
(This archived guidance relates to HMRC discretionary
practice before the 6th April 2006. For current guidance on
Registered Pension Schemes see the Registered Pension Schemes
Manual)
More specifically, the transfer-out rule must require the
administrator to:
- ascertain from the trustees or
administrator of the receiving scheme the section and Act under
which it is approved,
- provide a certificate if necessary showing
any restriction on the benefits which may be provided in lump sum
form (see
PSI14.1.24),
- if the scheme has a low NRD of age 45 or
less, certify the latest date on which the benefits may come into
payment (see
PSI14.2.2),
- provide the administrator of the receiving
scheme with any further relevant information he or she may
request.
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